Wealthcare Advisory Partners LLC Sells 2,989 Shares of Tesla, Inc. (NASDAQ:TSLA)

Wealthcare Advisory Partners LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,054 shares of the electric vehicle producer’s stock after selling 2,989 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Tesla were worth $5,272,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Tesla during the third quarter worth $29,000. Clean Yield Group boosted its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Peterson Financial Group Inc. bought a new position in Tesla in the 3rd quarter valued at $35,000. Finally, M&R Capital Management Inc. increased its position in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 621,886 shares of company stock valued at $213,451,751. Insiders own 20.70% of the company’s stock.

Tesla Stock Up 3.1 %

Shares of NASDAQ TSLA opened at $426.50 on Friday. The stock has a market capitalization of $1.37 trillion, a P/E ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm’s 50 day simple moving average is $389.94 and its two-hundred day simple moving average is $288.09. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. As a group, analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TSLA shares. Barclays increased their price target on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday. Cantor Fitzgerald raised their price target on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Robert W. Baird upped their price objective on Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Finally, Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and upped their price target for the company from $230.00 to $515.00 in a research report on Tuesday, December 17th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $299.33.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.